There was more positive data from the eurozone yesterday as Germany – the largest economy in the eurozone – posted a trade surplus figure of €24.1 billion for the month of September. The figure had been expected to increase from €20.1 billion to €21.5 billion, but it smashed that forecast.
Meanwhile, the EC revised its growth forecasts for the eurozone and increased them from 1.7% to 2.2% for 2017. The eurozone has shown consistent growth throughout the year and there are clear signs the economy is recovering from the debt crisis it faced.
Ultimately, all of this led to the euro strengthening against the US dollar and sterling on what was a relatively quiet day for economic data. Today isn’t much busier, although France will be posting it’s quarterly non-farm payrolls and monthly industrial production figures.